Coca-Cola (KO)
What the price implies
A reverse DCF: instead of guessing a fair value, it asks what growth today's price already assumes. How it works.
At a market value of $376.7B, Coca-Cola's free cash flow of $5.3B (fiscal 2025) would need to grow about 22% a year for the stock to be worth today's price. That is faster than the company has grown its free cash flow over the last 9 years.
Assumes a 9% discount rate and 3% growth after year 10, on free cash flow (operating cash flow minus capital spending) from Coca-Cola's SEC filings. Change any assumption, or model revenue and margins instead, in the Modeling tab, or try your own numbers in the reverse DCF calculator.
Fundamental grade
Five factors scored 1 to 9 from KO's latest numbers, weighted into one grade. It describes the business, not whether the stock is a buy.
Key numbers
Results from SEC filings
Fiscal years, from Coca-Cola's 10-K filings. The deep dive has 15+ years, quarters and every line.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $38.7B | $43.0B | $45.8B | $47.1B | $47.9B |
| Net income | $9.8B | $9.5B | $10.7B | $10.6B | $13.1B |
| Free cash flow | $11.3B | $9.5B | $9.7B | $4.7B | $5.3B |
| EPS (diluted) | $2.25 | $2.19 | $2.47 | $2.46 | $3.04 |
| Operating margin | 26.7% | 25.4% | 24.7% | 21.2% | 28.7% |
Where the revenue comes from
Revenue by segments, fiscal 2025.
Superinvestors who own KO
From each investor's latest 13F filing (what a 13F shows). 12 of the investors we track hold it.
| Investor | Last quarter | Value | % of portfolio | Quarter |
|---|---|---|---|---|
| Warren Buffett Berkshire Hathaway |
Held | $32.5B | 10.9% | Q2 2026 |
| Hersh Cohen ClearBridge Investments |
Added | $678M | 0.56% | Q2 2026 |
| Donald Yacktman Yacktman Asset Management |
Added | $173M | 2.1% | Q2 2026 |
| Lee Ainslie Maverick Capital |
Added | $163M | 1.4% | Q2 2026 |
| Cliff Asness AQR Capital Management |
Added | $132M | 0.05% | Q2 2026 |
| Joel Greenblatt Gotham Asset Management |
Added | $53M | 0.12% | Q2 2026 |
| Mario Gabelli GAMCO Investors |
Trimmed | $24M | 0.21% | Q2 2026 |
| PRIMECAP Management PRIMECAP Management Co |
Held | $3M | 0.00% | Q2 2026 |
| Dodge & Cox Dodge & Cox |
Held | $2M | 0.00% | Q2 2026 |
| Mark Boyar Boyar Asset Management |
Added | $2M | 0.98% | Q2 2026 |
| Eric Marshall Hodges Capital Management |
Trimmed | $727,624 | 0.05% | Q2 2026 |
| Sardar Biglari Biglari Capital Corp. |
Held | $9,752 | 0.00% | Q2 2026 |
Insider buying
Open-market purchases by Coca-Cola's executives and directors in the last 12 months, from SEC Form 4 filings. What insider buying tells you.
| Date | Insider | Shares | Price | Value |
|---|---|---|---|---|
| Mar 30, 2026 | Ro Khanna |
0 | $76.30 | — |
| Mar 30, 2026 | Ro Khanna |
0 | $76.30 | — |
| Mar 30, 2026 | Ro Khanna |
0 | $76.30 | — |
| Mar 23, 2026 | Ro Khanna |
0 | $75.12 | — |
| Mar 23, 2026 | Ro Khanna |
0 | $75.12 | — |
| Mar 23, 2026 | Ro Khanna |
0 | $75.12 | — |
| Mar 10, 2026 | Ro Khanna |
0 | $77.80 | — |
| Mar 10, 2026 | Ro Khanna |
0 | $77.80 | — |
| Mar 10, 2026 | Ro Khanna |
0 | $77.80 | — |
| Dec 29, 2025 | Markwayne Mullin |
0 | $70.10 | — |
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In the full deep dive
Questions
What growth does Coca-Cola's stock price imply?
At a market value of $376.7B, Coca-Cola would need its free cash flow to grow about 22% a year for 10 years (discounted at 9%, 3% growth after that) to be worth today's price. Over the last 9 years its free cash flow grew -2% a year.
Are Coca-Cola insiders buying the stock?
10 open-market insider purchases of KO in the last 12 months, from SEC Form 4 filings.
Which superinvestors own Coca-Cola?
12 of the superinvestors Investingly tracks hold KO in their latest 13F, including Warren Buffett, Hersh Cohen, Donald Yacktman.
Other Consumer Defensive stocks
Prices and ratios as of Oct 7, 2026; statements from SEC filings. Information only, not investment advice. Superinvestor holdings come from 13F filings, which are filed up to 45 days after each quarter ends.